US Interest Rates

The Fed have been heavy handed in recent years with interest rates. Cutting them severely in 2001 and then raising them throughout 2004, 2005 and 2006.

With interest rates now at rock bottom this monetary policy tool is now blunt.

Source: Federal Open Market Committee (FOMC)

Read the latest Federal Open Market Committee (FOMC) interest rate press release


Last updated: 13/06/2018
Next update:   26/09/2018

Typical variable rate mortgages are 2% above the base rate.

Month
Base Rate
Typical Variable Mortgage Rate
Change
FOMC Press Releases
FOMC Minutes
Jun 182.00%4.00% 0.25N/AN/A
Mar 181.75%3.75% 0.25N/AN/A
 
Dec 171.50%3.50% 0.25N/AN/A
Jun 171.25%3.25% 0.25N/AN/A
Mar 171.00%3.00% 0.25N/AN/A
 
Dec 160.75%2.75% 0.25N/AN/A
Mar 160.50%2.50% 0.0016/03/2016N/A
 
Dec 150.50%2.50% 0.25N/AN/A
Sep 150.25%2.25% 0.0017/09/2015N/A
Mar 150.25%2.25% 0.0018/03/2015N/A
Jan 150.25%2.25% 0.0028/01/2015N/A
 
Dec 140.25%2.25% 0.0017/12/2014N/A
Oct 140.25%2.25% 0.0029/10/2014N/A
Sep 140.25%2.25% 0.0017/09/2014N/A
Jul 140.25%2.25% 0.0030/07/2014N/A
Jun 140.25%2.25% 0.0018/06/2014N/A
Apr 140.25%2.25% 0.0030/04/2014N/A
Mar 140.25%2.25% 0.0019/03/2014N/A
Jan 140.25%2.25% 0.0029/01/2014N/A
 
Dec 130.25%2.25% 0.0018/12/2013N/A
Oct 130.25%2.25% 0.0030/10/2013N/A
Sep 130.25%2.25% 0.0018/09/2013N/A
Jul 130.25%2.25% 0.0031/07/2013N/A
Jun 130.25%2.25% 0.0019/06/2013N/A
May 130.25%2.25% 0.0001/05/2013N/A
Mar 130.25%2.25% 0.0020/03/2013N/A
Jan 130.25%2.25% 0.0030/01/2013N/A
 
Dec 120.25%2.25% 0.0012/12/2012N/A
Oct 120.25%2.25% 0.0024/10/2012N/A
Sep 120.25%2.25% 0.0013/09/2012N/A
Aug 120.25%2.25% 0.0001/08/2012N/A
Jun 120.25%2.25% 0.0020/06/2012N/A
Apr 120.25%2.25% 0.0025/04/2012N/A
Mar 120.25%2.25% 0.0013/03/2012N/A
Jan 120.25%2.25% 0.0025/01/2012N/A
 
Dec 110.25%2.25% 0.0013/12/2011N/A
Nov 110.25%2.25% 0.0002/11/2011N/A
Sep 110.25%2.25% 0.0021/09/2011N/A
Aug 110.25%2.25% 0.0009/08/2011N/A
Jun 110.25%2.25% 0.0022/06/2011N/A
Apr 110.25%2.25% 0.0027/04/2011N/A
Mar 110.25%2.25% 0.0015/03/2011N/A
Jan 110.25%2.25% 0.0026/01/2011N/A
 
Dec 100.25%2.25% 0.0014/12/2010N/A
Nov 100.25%2.25% 0.0003/11/2010N/A
Sep 100.25%2.25% 0.0021/09/2010N/A
Aug 100.25%2.25% 0.0010/08/2010N/A
Jun 100.25%2.25% 0.0023/06/2010N/A
Apr 100.25%2.25% 0.0028/04/2010N/A
Mar 100.25%2.25% 0.0016/03/2010N/A
Jan 100.25%2.25% 0.0027/01/2010N/A
 
Dec 090.25%2.25% 0.0016/12/2009N/A
Nov 090.25%2.25% 0.0004/11/2009N/A
Sep 090.25%2.25% 0.0023/09/2009N/A
Aug 090.25%2.25% 0.0012/08/2009N/A
Jun 090.25%2.25% 0.0024/06/200915/07/2009
Apr 090.25%2.25% 0.0029/04/200920/05/2009
Mar 090.25%2.25% 0.0017/03/200908/04/2009
Jan 090.25%2.25% 0.0028/01/200918/02/2009
 
Dec 080.00%2.00% 1.0016/12/200806/01/2009
Nov 081.00%3.00% 0.5029/10/200819/11/2008
Oct 081.50%3.50% 0.5008/10/200819/11/2008
Sep 082.00%4.00% 0.0016/09/200807/10/2008
Aug 082.00%4.00% 0.0005/08/200826/08/2008
Jun 082.00%4.00% 0.0025/06/200816/07/2008
Apr 082.00%4.00% 0.2530/04/200821/05/2008
Mar 082.25%4.25% 0.7518/03/200808/04/2008
Jan 083.00%5.00% 0.5030/01/200820/02/2008
Jan 083.50%5.50% 0.7522/01/200820/02/2008
 
Dec 074.25%6.25% 0.2511/12/200702/01/2008
Oct 074.50%6.50% 0.2531/10/200720/11/2007
Sep 074.75%6.75% 0.5018/09/200709/10/2007
Aug 075.25%7.25% 0.0007/08/200728/08/2007
Jun 075.25%7.25% 0.0028/06/200719/07/2007
May 075.25%7.25% 0.0009/05/200730/05/2007
Mar 075.25%7.25% 0.0021/03/200711/04/2007
Jan 075.25%7.25% 0.0031/01/200721/02/2007
 
Dec 065.25%7.25% 0.0012/12/200603/01/2007
Oct 065.25%7.25% 0.0025/10/200615/11/2006
Sep 065.25%7.25% 0.0020/09/200611/10/2006
Aug 065.25%7.25% 0.0008/08/200629/08/2006
Jun 065.25%7.25% 0.2529/06/200620/07/2006
May 065.00%7.00% 0.2510/05/200631/05/2006
Mar 064.75%6.75% 0.2528/03/200618/04/2006
Jan 064.50%6.50% 0.2531/01/200621/02/2006
 
Dec 054.25%6.25% 0.2513/12/200503/01/2006
Nov 054.00%6.00% 0.2501/11/200522/11/2005
Sep 053.75%5.75% 0.2520/09/200511/10/2005
Aug 053.50%5.50% 0.2509/08/200530/08/2005
Jun 053.25%5.25% 0.2530/06/200521/07/2005
May 053.00%5.00% 0.2503/05/200524/05/2005
Mar 052.75%4.75% 0.2522/03/200512/04/2005
Feb 052.50%4.50% 0.2502/02/200523/02/2005
 
Dec 042.25%4.25% 0.2514/12/200404/01/2005
Nov 042.00%4.00% 0.2510/11/200417/12/2004
Sep 041.75%3.75% 0.2521/09/200412/11/2004
Aug 041.50%3.50% 0.2510/08/200423/09/2004
Jun 041.25%3.25% 0.2530/06/200412/08/2004
May 041.00%3.00% 0.0004/05/200401/07/2004
Mar 041.00%3.00% 0.0016/03/200406/05/2004
Jan 041.00%3.00% 0.0028/01/200418/03/2004
 
Dec 031.00%3.00% 0.0009/12/200329/01/2004
Oct 031.00%3.00% 0.0028/10/200310/12/2003
Sep 031.00%3.00% 0.0016/09/200330/10/2003
Aug 031.00%3.00% 0.0012/08/200318/09/2003
Jun 031.00%3.00% 0.2525/06/200314/08/2003
May 031.25%3.25% 0.0006/05/200326/06/2003
Mar 031.25%3.25% 0.0018/03/200308/05/2003
Jan 031.25%3.25% 0.0029/01/200320/03/2003
 
Dec 021.25%3.25% 0.0010/12/200230/01/2003
Nov 021.25%3.25% 0.5006/11/200212/12/2002
Sep 021.75%3.75% 0.0024/09/200207/11/2002
Aug 021.75%3.75% 0.0013/08/200226/09/2002
Jun 021.75%3.75% 0.0026/06/200215/08/2002
May 021.75%3.75% 0.0007/05/200227/06/2002
Mar 021.75%3.75% 0.0019/03/200209/05/2002
Jan 021.75%3.75% 0.0030/01/200221/03/2002
 
Dec 011.75%3.75% 0.2511/12/200131/01/2002
Nov 012.00%4.00% 0.5006/11/200113/12/2001
Oct 012.50%4.50% 0.5002/10/200108/11/2001
Sep 013.00%5.00% 0.5017/09/200104/10/2001
Aug 013.50%5.50% 0.2521/08/200104/10/2001
Jun 013.75%5.75% 0.2527/06/200123/08/2001
May 014.00%6.00% 0.5015/05/200128/06/2001
Apr 014.50%6.50% 0.5018/04/200117/05/2001
Mar 015.00%7.00% 0.5001/03/200117/05/2001
Jan 015.50%7.50% 0.5031/01/200122/03/2001